Updates

Capital Drilling

April 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

No let up in CAPD's growth with the company saying the H2 runrate was 19% higher than H1. Overall, for the year to 31 December revenues were up 74% to US$130.5m, pretax profit was up 70% to US$21.7m and eps up 45% to 13.1 cents (on a slightly higher tax charge of 19%).The year saw 11 new drilling rigs added to take the total to 85 but despite those additions, the key metric of average revenue per rig grew to US$164,000 in Q4 helped by double shifting, up from the US$154,000 average in H1. Net debt after the investment was US$14.6m against a facility of US$47m.Almost three-quarters of turnover is derived from large, blue chip mining firms with aggressive drilling programmes and these clients have never been more flush with c ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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